Texas Agricultural Property Tax Exemption Rate. A texas agricultural exemption for property taxes is actually not an exemption from taxes, but rather a special use valuation for a tract of land. These variations can have an effect on the valuation of the.
The exemption will be added to the existing $25,000 homestead exemption. Tax code section 11.13 (b) requires school districts to provide a $25,000 exemption on a residence homestead and tax code section 11.13 (n) allows any taxing unit to adopt a local option residence homestead exemption of up to 20 percent of a property's appraised value. Projected value of the open space productivity valuation for agriculture on school property tax savings.
